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Stockholders' Equity | 6 Months Ended
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Jun. 30, 2024
Equity [Abstract] |
Stockholders' Equity | Stockholders’ Equity Share Repurchase Programs Our board of directors has authorized a program to repurchase our common stock. Details of the program and activity thereunder through June 30, 2024 were as follows:
(in thousands) | Effective Date | Expiration Date |  | Share Value Authorized for Repurchase |  | Share Value Repurchased |  | Unused & Expired Share Repurchase Value |  | Share Value Available for Future Repurchase
2022 Program | August 2022 | July 2024 |  | $ | 50,000 |  |  | $ | 40,471 |  |  | N/A |  | $ | 9,529 |
Share repurchases are accounted for as the trade date occurs and are reflected in the condensed consolidated financial statements net of the costs incurred to acquire the shares. Share repurchases that have not yet settled in cash are included in accrued expenses in the condensed consolidated balance sheet. The share repurchase activity by period was as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands, except shares and per share amounts) | 2024 |  | 2023 |  | 2024 |  | 2023
Number of shares repurchased | 95,395 |  |  | — |  |  | 204,875 |  |  | — |
Total share repurchased cost | $ | 17,483 |  |  | $ | — |  |  | $ | 37,483 |  |  | $ | — |
Average total cost per repurchased share | $ | 183.27 |  |  | $ | — |  |  | $ | 182.96 |  |  | $ | — |
On July 24, 2024 (announced July 25, 2024), our board of directors authorized a program to repurchase up to $100.0 million of our common stock, excluding costs to obtain. Under the program, purchases may be made from time to time in the open market or in privately negotiated purchases, or both. The share repurchase program will become effective August 23, 2024 and expires on July 24, 2026. Treasury Stock Reissuance In connection with the acquisition of Traverse Systems, the Company re-issued treasury shares as part of the purchase consideration (see Note B – Business Combinations for further information). Treasury stock reissuances are accounted for using the specific identification method, with gains (or losses to the extent of previously recognized gains) recognized in additional paid-in capital and any remaining loss recorded in retained earnings.

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